If you’ve got $25 or $100,000 burning a hole in your pocket, you can “buy” Hawaiian Kingdom bonds from Sai’s website – there’s only one problem, the bonds have already expired.

According to Sai’s website, the bonds are: “Redeemable at par within 1 year after the 5th year from the date when the United States of America's military occupation of the Hawaiian Islands has come to an end and that the Hawaiian government is in effective control in the exercising of its sovereignty.”

Hawaii is not militarily occupied, as evidenced by the fact that we are governed by elected officials not military officers—but this hasn’t always been the case.

Hawaii was militarily occupied by the United States from the date of the Pearl Harbor attack, December 7, 1941, until October 24, 1944. It was hard to miss. Military tribunals heard criminal cases. Instead of elected officials, Hawaii was ruled by the commanding general of the Army’s Hawaiian Department.

Therefore, following logically from to the text of his website, Sai’s bonds were only redeemable from October 24, 1949 to October 24, 1950.

According to the Hawaii DCCA Securities Enforcement Branch website, “We investigate complaints against individuals and businesses for possible violations of state securities and franchise laws. We can take legal action against violators, and in appropriate cases, refer matters to other agencies for criminal prosecution. Please help us stop securities and franchise fraud by reporting fraud to us.”